SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
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Schutt Law Firm, P.A. - Attorney Profile
Home Closing 101
Do you know what to expect on closing day?
Most people don’t. And that can lead to some uneasiness. But help is here. The American Land Title Association, or ALTA, has created a website featuring information every homebuyer can use to help familiarize themselves with the closing process before walking into the closing
The Home Closing 101 Site
At Home Closing 101 you will find information you can use to prepare yourself for closing. The site covers topics such as title insurance, escrow fees and closing costs. So when the time comes to sign on the dotted line you’ll feel fully prepared.
Home Closing 101 is especially helpful for first time buyers. Buying a house is an exciting time and the more you know about the process, the more relaxed you’ll be going through it. Spend a little time on the site and you can walk through the home buying process, receiving explanations for each step and helpful hints on how to find the right people to help you on your journey to homeownership.
Click here to start learning about the home buying process.
What Is American Land Title Association (ALTA)?
Founded in 1907, ALTA is the national trade association and voice of the title insurance industry. ALTA members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate.
ALTA members advocate safe and efficient transfer of real estate and insist on high standards when searching land title records and preparing insurance documents. The industry seeks to eliminate risk before insuring, which provides homebuyers with the best possible chance of avoiding land title problems. But, title difficulties can and do occur, and members offer both Owner’s and Lender’s title insurance policies as effective safeguards.
Click here to visit the ALTA website.
About Stewart Title Insurance
Stewart (NYSE: STC) is a leading provider of real estate services, including global residential and commercial title insurance, escrow and settlement services, lender services, underwriting, specialty insurance and other solutions that facilitate successful real estate transactions. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, through our direct operations, network of approved agencies and other companies within the Stewart family. Through a focus on integrity, smart growth and conservative management, Stewart remains committed to serving our customers, innovating and improving to meet their needs in an ever-changing market.
Please click on the link below for more information:
WHY TITLE INSURANCE?
Owning real estate is one of the most precious values of freedom in this country. You want the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home.
Title insurance is issued after a careful examination of the public records. But even the most thorough search cannot absolutely assure that no title faults are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search. Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property.
Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life, or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults, but does protect you from risks or undiscovered interests. Another difference is that you pay a one-time premium for a policy that remains effective until the property is sold to a new owner - even if that doesn't occur for decades.
What is a Lender's Policy?
A lender's policy, also known as a loan policy or a mortgage policy, protects the lender against loss due to unknown title defects. It also protects the lender's interest from certain matters which may exist, but may not be known at the time of the sale.
This policy only protects the lender's interest. It does not protect the purchaser. That is why a real estate purchaser needs an owner's policy.
What is an owner's policy?
An owner's policy protects you, the purchaser, against a loss that may occur from a fault in the ownership or interest you have in the property. You should protect the equity in your new home with a title policy.
What does an owner's policy provide?
- Protection from financial loss due to demands that may be charged against the title to your home, up to the cost of the title policy.
- Payment of legal costs if the title insurer has to defend your title against a covered claim.
- Payment of successful claims against the title to your home covered by the policy, up to the cost of the policy.
Why the seller needs to provide title insurance?
Any purchaser will need evidence that his investment in your property is free of title defects. The title insurance policy that you provide the purchaser is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. It will reassure your purchaser that he or she is protected from any risks or losses and could help you close your deal.
Why the buyer needs title insurance?
Without title insurance, you may not be fully protected against errors in public records, hidden defects not disclosed by the public records, or mistakes in examination of the title. As a result, you may be held fully accountable for any prior liens, judgments or claims brought against your new property. If this should occur, your title policy insures that you will be defended at no cost against all covered claims up to the amount of the policy.
How much does title insurance cost?
The insurance commission approves and controls the premiums for title insurance policies. The premiums are paid only once and the cost depends upon the purchase price of the property and the policy amount must be equal to the purchase price.
What does title insurance protect from?
- Fraud
- Adverse possession
- Rights of divorced parties
- Deeds by minors
- Undisclosed Heirs
- Errors in tax records
- False affidavits of death or heirship
- Probate matters
- Deeds and wills by persons of unsound mind
- Conveyances by undisclosed divorced spouses
- Forfeitures of real property due to criminal acts
- Deeds by persons falsely representing their marital status
- Documents executed by a revoked or expired Power of Attorney
- Defective acknowledgements due to improper or expired notarization
- Mistakes and omissions resulting in improper abstracting
- Forged deeds, mortgages, wills, releases and other documents
- False impersonation of the true land owner
Before you put your home on the market this spring, be sure it's ready to wow potential buyers. To get it right, focus on increasing your curb appeal using these tips.
Increase Your Home's Curb Appeal With These Tips
As you plan your home selling strategy, don't forget to include curb appeal in your to-do list. Your home's exterior is what makes the first impression on potential buyers, so make sure your home looks well taken care of and inviting. To stay under budget, check out these easy and inexpensive tips to increase your home's curb appeal.Add Some Color to Your Front Door
A very easy and budget-friendly way to give your entire home's exterior a facelift is by giving your front door a new coat of paint. A bright color can add a nice accent that is more appealing and friendly. Instead of swapping out your current front door, simply update it with some paint and some new hardware. Just keep in mind that you want to take your time doing the painting and make sure the color you choose matches your exterior's current color scheme.Add Some Personality to Your Porch
Next up, get your porch to match your new front door by sprucing it up a bit. If you have a railing, a new coat of paint on this can make it look like new. Focus some attention on making potential buyers feel more welcome during home visits by placing a cute doormat at the entryway and a festive wreath on the door. You can also add pops of color by placing potted plants around the entryway. Hanging planters, plant stands, and even just decorative pots on the floor can make the area look more welcoming.Make the Lawn and Garden Welcoming
The winter storms may have wreaked havoc on your lawn and garden areas, but now that spring is in full bloom, it's time to get these looking great again. Trim your lawn and identify problem areas that are dry or bald. Focus your efforts on getting these to match the rest of your green lawn. When your lawn looks spotless it gives off the idea that it's easier to maintain. For the garden areas, head over to your local lawn and garden shop for some seasonal flowers. Plant these in your garden to give your home fresh spring vibes. As you prepare to put your home on the market, it can help to get to know some more technical details, including the importance of title insurance in Fort Myers. To learn why title insurance is such an important part of a home transaction, contact Schutt Law. Call them at (239) 540-7007 to get your title insurance questions answered.Clean Your Home's Exterior
While decorating and updating can make a huge difference on your home's look, so can something as simple as cleaning. Grab some buckets of water, soap, and a sponge and get to work on your home's siding. Scrub off all the dirt and grime that was left behind by the winter storms and take care of any repair your siding may need. If you have a power washer, pull this out as well in order to get the walkways and driveway as clean as possible. Finally, get to work on your windows. Remove the screens and clean your windows inside and out. Since the screens are off, wash these as well for the deepest clean. This will ensure your windows will sparkle in the spring sunshine.Fix up the Roof
Getting a new roof can be a pricey investment, so a roof that isn't in good shape can cause potential buyers to lose interest in your home quite quickly. If your roof is still in good shape but just need some minor fixes where there are broken or missing shingles, this won't be very hard or expensive to repair when compared to getting a whole new roof. If needed, get expert help to ensure your roof is looking its best.Upgrade Your Lighting
Finally, not all your home showings will be during daylight hours, so focusing some attention on your outdoor lighting is a must. Not only will this ensure potential buyers will be able to see your home, the right lighting can also make it look more welcoming and less like a haunted house. Update old lighting fixtures, add warm light to your porch area, and install landscape lighting around important features.The Importance of Title Insurance in Fort Myers
Before your home is sold, be sure you understand why title insurance in Fort Myers must be included in your home transaction. To get your title insurance questions answered, contact the title experts at Schutt Law at (239) 540-7007.12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
